Crypto Exchange FTX.US Enters into Stock Trading to Take on Robinhood

Crypto Exchange FTX.US

Crypto exchange FTX will allow customers to trade stocks and exchange-traded funds on its trading app alongside Bitcoin and Dogecoin.

FTX will enable access to its new stock-trading platform for a limited number of US customers. The exchange plans to expand the functionality to all US customers in the next few months.

Brett Harrison, President of FTX.US stated that the app could offer trading in other asset classes, such as futures, within the same platform.

FTX is set to provide commission-free stock trading like numerous major US online brokerage platforms. But it will not channel customer orders to high-speed traders in exchange for cash.

The crypto exchange plans to announce additional details of the launch later on Thursday. Other crypto trading apps such as Block Inc and Robinhood have already integrated stock and crypto trading.

Source: The Wall Street Journal

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